TELUS Co. (NYSE:TU) Short Interest Up 10.1% in December

TELUS Co. (NYSE:TU) (TSE:T) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 1,640,000 shares, a growth of 10.1% from the December 15th total of 1,490,000 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average trading volume of 412,900 shares, the short-interest ratio is presently 4.0 days.

Institutional investors have recently added to or reduced their stakes in the stock. Johanson Financial Advisors Inc. acquired a new stake in TELUS in the fourth quarter valued at $223,000. Allred Capital Management LLC acquired a new stake in TELUS in the fourth quarter valued at $192,000. Hexavest Inc. lifted its stake in TELUS by 9.7% in the fourth quarter. Hexavest Inc. now owns 40,658 shares of the Wireless communications provider’s stock valued at $1,576,000 after acquiring an additional 3,603 shares during the last quarter. Nexus Investment Management Inc. lifted its stake in TELUS by 4.4% in the fourth quarter. Nexus Investment Management Inc. now owns 715,710 shares of the Wireless communications provider’s stock valued at $27,752,000 after acquiring an additional 30,150 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in TELUS by 7.0% in the third quarter. Beutel Goodman & Co Ltd. now owns 8,527,170 shares of the Wireless communications provider’s stock valued at $303,512,000 after acquiring an additional 557,574 shares during the last quarter. 49.27% of the stock is owned by institutional investors and hedge funds.

TELUS stock traded up $0.13 during mid-day trading on Wednesday, reaching $38.61. The company’s stock had a trading volume of 6,299 shares, compared to its average volume of 354,000. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 2.47 and a beta of 0.67. TELUS has a 12 month low of $34.15 and a 12 month high of $39.08. The business’s 50 day simple moving average is $38.31 and its 200 day simple moving average is $36.90. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 0.80.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Thursday, November 7th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a net margin of 11.91% and a return on equity of 16.54%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. As a group, sell-side analysts expect that TELUS will post 2.18 EPS for the current year.

TU has been the subject of several research reports. Echelon Wealth Partners reissued a “buy” rating and set a $56.00 price objective on shares of TELUS in a research report on Tuesday, November 12th. Scotiabank raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a research report on Friday, November 8th. Finally, Bank of America raised shares of TELUS from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. TELUS currently has an average rating of “Buy” and a consensus price target of $49.67.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

See Also: What is quantitative easing?

Receive News & Ratings for TELUS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TELUS and related companies with MarketBeat.com's FREE daily email newsletter.